IMA Advisory Services Inc. Increases Stock Holdings in Alphabet Inc. $GOOG

IMA Advisory Services Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,134 shares of the information services provider’s stock after purchasing an additional 485 shares during the quarter. IMA Advisory Services Inc.’s holdings in Alphabet were worth $4,991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC boosted its stake in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Deutsche Bank AG increased its stake in shares of Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 221,796 shares of company stock worth $53,983,001. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. UBS Group reissued a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Wolfe Research lifted their price target on shares of Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Price Performance

GOOG stock opened at $291.74 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company’s fifty day moving average price is $254.94 and its 200-day moving average price is $207.64. Alphabet Inc. has a one year low of $142.66 and a one year high of $292.34. The company has a market capitalization of $3.53 trillion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.